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May 14, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Ashley, Business Loans > Mcintosh County Bank Ashley Business Loans > Limited-Service Restaurants Loan | ||||
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Ashley Bank Loan
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Ashley, North Dakota Lender Lends Money to Limited-Service Restaurants CompanyAn Ashley, North Dakota small business loan can be yours. Learn how one firm got a $25,500 business loan from this North Dakota bank. This loan to a local firm is a good example of an SBA loan. Mcintosh County Bank made the loan and the SBA guaranteed a portion of the loan. Many other North Dakota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender MCINTOSH COUNTY BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 3/26/2001 Loan Approval Gross Amount $25,500 Loan Approval from the SBA Of the total $25,500 loan amount, the SBA guaranteed $21,675. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: A Company That Helps Entrepreneurs SBA 7A Lenders in Ashley, North Dakota
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